All Forum Posts by: CJ S.

how do I search for affordable fix and flip insurance

Hi, I'm looking for some referrals for people who can and will repair old double/single hung windows - replace ropes, some glass, re-glaze, re-caulk, patch wood, etc.  After reading up on the quality and endurance of windows manufactured from 1940 and before, it is apparent that people too often replace them as a matter of course with modern windows that are both not inexpensive and are far inferior to the old material and construction. Repaired and maintained old windows with properly installed storm windows are demonstrated to exceed the energy conservation of new windows.  Read up on the issue of replace or repair at The Craftsman Blog and Old House Authority. My main guy can probably do this stuff but he may be occupied enough by the overall scope of the rehab that I need someone else to do the window project.

Anybody out there heard of Dolmar Cross of Florida who is marketing a leads generation software designed to recruit and train people to generate leads for you with his system called Property Scout Pipeline ? I received a link from Patrick Riddle -  I picked up Patrick somewhere along the line and I am on his email list now -  for that matter, is Patrick a legitimate source of recommendation for other training tools and systems ?  I'm well aware of how to use and compensate bird dogs as leads generators without running afoul of rules on agency, but would like input if available on Dolmar and his system.  Thanks

I have a signed contract with several people to be their gateway to free training with a national instructor, as well as a gateway to pre-approved lending on flips. I mentor them in addition to the professional training and offer field support.  The agreement specified a 24 month committment during which time we would split profits 50/50.  After 24 months they can fly solo or re-up for continued partnership support and source of financing.  To protect my time and financial interests -which are significant - the contract specified that the trainee does not have a right to terminate the agreement early and I can only terminate them for breach of agreement obligation or criminal/unethical actions. I have not breached my obligation to him but one trainee wants to terminate our agreement to each other after finishing his training but before he has done any deals with me, yet he is still  subscribing to the instructors training and lending site and his software.  If he intends to continue to pursue flips and wholesales for profit I feel he should honor the remainder of our agreement.  I don't think he entered into the agreement intending to break it, but he has become frustrated with a lack of initial success and the fact that the lenders tightened restrictions on first time flippers and now require 4 wholesale deals before lending for flips. For the record  I cannot afford to provide someone with training and funding at no cost to them so they can become my competition without any financial return to myself.  Any thoughts on how to approach him to preserve the partnership so that we each benefit?

We are considering converting our 20+ year residence to rental but want to know IF or HOW we can convert it back to our residence in the future and preserve the capital gains exclusion. Does the length of residence ownership have any effect on how the future sale would be treated?

We are considering converting our residence we have owned over 20 years to a rental. Would that forever eliminate the opportunity to take the capital gains exclusion if we sell in the future? Does the number of years the property was a primary residence have any bearing on converting it back to a residence before selling and preserving the capital gains exclusion?

I signed on to a program that was to form student investor groups in various cities that would offer extensive training at no cost AND 100% funding of flip deals up to 70% of ARV to the students in exchange for a specific term of 50/50 profit splitting between each of the program directors and their respective students. Before most of the students were ready to do their first deals, the 100% funding was abruptly taken off the table leaving the students with the grim reality and necessity of making down payments of 20% on their deals - something they were not prepared to do and which they had been specifically told they would not have to do. After recovering from the punch to the gut, I began to think about how to keep the endeavor viable according to the original plan of financing deals. I would like to know how to legally attract and form a replacement group of lenders - either as a pool who collectively lend on each deal, or a group of individual lenders to which deals will be submitted on an individual basis according to the terms offered to the student investors. Aside from the obvious presentation of the enterprise and evidence of strong deals with solid numbers, how can this be done without taking on the appearance of a security offering, and where and how would I begin to look for participants ? I am one of the program directors, and I could just walk away from the whole thing and lick my wounds, but aside from needing to move ahead for my own financial benefit, I feel responsible to the the people I recruited based on the original template I was given, and I don't want to see them robbed of their hopes and aspirations.